Does Xcel have Commercial Solar Rebates for Colorado in 2024?
No, not exactly. However, like the Xcel Home Solar*Rewards program, Xcel has a Commercial Solar*Rewards program for Colorado businesses! The Solar*Rewards Commercial & Industrial incentive can provide businesses with upfront incentives based on watts installed and Renewable Energy Credits (REC) for kWh generated. Businesses are eligible for these incentives if they meet the system size requirements, or they serve Income Qualified customers and are located in a Disproportionately Impacted Community. (Qualification requirements below)
What is included in the Solar*Rewards Commercial & Industrial?
The standard Xcel Solar*Rewards Commercial & Industrial incentives do not provide “upfront” installation incentives. However, Xcel Energy provides a Renewable Energy Credit (REC), an incentive that pays the system owner in cents per kWh generated.
Solar*Rewards Commercial & Industrial Customers System Size Requirements.
- Must be a Colorado Xcel Energy Electrical Commercial Rate Customer
- Your system must be measured in AC
- Your system Capacity Target is 15MW/Year
- Your System Size is between 8kW – 1MW
- Must sign an Interconnection Agreement and 20 Years REC Contract
- Deposit $50/kW-AC
Solar*Reward Commercial & Industrial Renewable Energy Credit Tiers
- Tier 1: 8 kW – 250 kW = $0.04/kWh
- Tier 2: 250.1 kW – 500 kW = $0.0375kWh
- Tier 3: 500.1 kW – 1 MW = $0.035/kWh
What is included in the Solar*Rewards Commercial & Industrial IQ/DIS Incentives?
When a company meets the Solar*Rewards Commercial & Industrial: Income Qualified & Disproportionately Impacted Community requirements, it will receive an upfront incentive of $0.12/watt of solar installed. This incentive has an annual cap of $700,000. You will add this to the standard Solar*Rewards Commercial & Industrial incentive since the initial requirements have already been met.
Solar*Rewards Commercial & Industrial Customers IQ/DIC Requirements.
- Must be a Colorado Xcel Energy Electrical Commercial Rate Customer
- The customer must serve Income Qualified Customers and Disproportionately Impacted Communities
- Your system must be measured in AC
- Your system Capacity Target is 15MW/Year
- Your System Size is between 8kW – 1MW
- Must sign an Interconnection Agreement and 20 Years REC Contract
- Deposit $50/kW-AC
The timeline for receiving these incentives can be up to 18 months. Forfeiture of deposits can add up to 6 months.
For more information on the Xcel Solar*Rewards program, you can contact iqdicsolarprogramco@xcelenergy.com
